Tim Ferriss on How to Overcome Your Fears

I had no idea what Stoicism was about until I watched Tim Ferriss’ TED talk on why we should define our fears before we define our goals.

In the talk, Tim described how some of the world’s top performers use the principles of Stoicism to confront their fears and methodically achieve their goals. Principles that are built on 4 virtues:-

#1 Practical Wisdom

The virtue of knowing which problems can be solved and which are beyond our control.

#2 Temperance

The virtue of being balanced and disciplined in life.

#3 Justice

The virtue of treating everyone with fairness, regardless of whether they have treated you well or not. A virtue that is all about seeing the grayness of the world and being realistic about the people in it.

#4 Courage

The virtue of being calm under fire and showing steely resolve.

But the most important bit of this presentation was not about Stoicism. It was about an exercise that Tim does every quarter to face his apprehensions and avoid making catastrophic mistakes.

Step #5: What are the Benefits of Action?

Now take a new sheet of paper and list all the benefits you will reap if you go through with your plan.

Step #6: List the Cost of Inaction

Finally, take another sheet of paper, write “Cost of Inaction” on top of it, and list all the ways inaction will cost you physically, emotionally, mentally, and financially in the next 6 months, 1 year, and 3 years.

For example, not taking the year-long world tour may end up costing you mental peace, life-time experiences, opportunities, and connections.